for smart phones.   Points P Q A 6060 3,0003,000 B 7070 2,8002,800 C 8080 2,6002,600 D 9090 2,4002,400 E 100100 2,2002,200 F 110110 2,0002,000 G 120120 1,8001,800 H 130130 1,6001,600   Step 1 of 2 :   Using the midpoint method, calculate the price elasticity of demand from Point F to Point G. If

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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The following table displays data about demand for smart phones.
 
Points P Q
A 6060 3,0003,000
B 7070 2,8002,800
C 8080 2,6002,600
D 9090 2,4002,400
E 100100 2,2002,200
F 110110 2,0002,000
G 120120 1,8001,800
H 130130 1,6001,600
 
Step 1 of 2 :  
Using the midpoint method, calculate the price elasticity of demand from Point F to Point G. If necessary, round all intermediate calculations and your final answer to two decimal places.
 
 
 
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